Celldex Therapeutics (NASDAQ:CLDX) Given New $45.00 Price Target at UBS Group

Celldex Therapeutics (NASDAQ:CLDX) had its price objective boosted by equities research analysts at UBS Group from $38.00 to $45.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the biopharmaceutical company’s stock. UBS Group’s target price suggests a potential upside of 53.01% from the stock’s current price.

A number of other equities analysts also recently issued reports on CLDX. Barclays increased their price objective on Celldex Therapeutics from $45.00 to $48.00 and gave the stock an “overweight” rating in a report on Friday, May 8th. The Goldman Sachs Group increased their price objective on Celldex Therapeutics from $30.00 to $34.00 and gave the stock a “neutral” rating in a report on Monday, March 2nd. Wall Street Zen upgraded Celldex Therapeutics from a “strong sell” rating to a “sell” rating in a report on Saturday, May 9th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Celldex Therapeutics in a report on Monday, April 20th. Finally, Wolfe Research upgraded Celldex Therapeutics from a “peer perform” rating to an “outperform” rating and set a $44.00 price target on the stock in a research note on Monday, March 23rd. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $49.30.

Celldex Therapeutics Stock Performance

CLDX stock traded down $0.19 on Wednesday, reaching $29.41. The company’s stock had a trading volume of 133,132 shares, compared to its average volume of 892,411. The business has a fifty day simple moving average of $31.92 and a two-hundred day simple moving average of $28.75. Celldex Therapeutics has a 12-month low of $19.52 and a 12-month high of $35.79. The firm has a market cap of $2.31 billion, a PE ratio of -6.91 and a beta of 0.95.

Celldex Therapeutics (NASDAQ:CLDX) last posted its quarterly earnings data on Thursday, May 7th. The biopharmaceutical company reported ($1.18) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.15) by ($0.03). The business had revenue of $0.02 million during the quarter, compared to analyst estimates of $0.80 million. As a group, research analysts anticipate that Celldex Therapeutics will post -4.36 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Celldex Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the stock. Segall Bryant & Hamill LLC increased its holdings in shares of Celldex Therapeutics by 36.3% during the third quarter. Segall Bryant & Hamill LLC now owns 528,597 shares of the biopharmaceutical company’s stock valued at $13,675,000 after acquiring an additional 140,709 shares in the last quarter. Propel Bio Management LLC bought a new position in Celldex Therapeutics in the 3rd quarter valued at approximately $4,010,000. Eventide Asset Management LLC lifted its position in Celldex Therapeutics by 37.1% in the 3rd quarter. Eventide Asset Management LLC now owns 1,859,095 shares of the biopharmaceutical company’s stock valued at $48,096,000 after acquiring an additional 502,909 shares in the last quarter. American Century Companies Inc. lifted its position in Celldex Therapeutics by 4.6% in the 3rd quarter. American Century Companies Inc. now owns 815,560 shares of the biopharmaceutical company’s stock valued at $21,099,000 after acquiring an additional 35,575 shares in the last quarter. Finally, Braidwell LP bought a new position in Celldex Therapeutics in the 3rd quarter valued at approximately $15,307,000.

About Celldex Therapeutics

Celldex Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on the discovery and development of targeted immunotherapies for cancer and other serious diseases. The company’s research platforms leverage novel antibody and vaccine technologies designed to engage the patient’s immune system, with a particular emphasis on oncology and neurologic indications. Celldex’s pipeline includes both monoclonal antibodies and biologic agents that seek to modulate immune responses or deliver targeted cytotoxic activity.

Among Celldex’s lead product candidates is glembatumumab vedotin, an antibody–drug conjugate directed against the glycoprotein NMB (gpNMB) for the treatment of certain breast and skin cancers.